Prenetics (PRE), a health-sciences company that raised $48 million earlier this year, partially to build a bitcoin treasury, said it decided to stop purchasing BTC amid prolonged weakness in the cryptocurrency market. The company rolled out its bitcoin accumulation strategy in June, following a model championed by Michael Saylor's Strategy Inc, in which firms raise capital to buy and hold crypto on their balance sheets. He said the funds would help its "IM8" business scale globally while accumulating 1 BTC daily toward a goal of $1 billion in revenue and bitcoin within five years. However, the firm said in a statement on Tuesday that it stopped purchasing bitcoin on Dec. 4 to focus its resources exclusively on IM8, which it said has generated more than $100 million in annualized recurring revenue (ARR) since it launched 11 months ago. “The phenomenal success of IM8 has exceeded all expectations and scaled much faster than we originally anticipated,” Yeung said. Prenetics, backed and co-founded by English football icon David Beckham, said it won't allocate any existing or new capital for the purpose of buying additional bitcoin. Prenetics shares have risen 189% this year, while Michael Saylor's MSTR fell nearly 48% and bitcoin dipped about 5.6%. L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. 2025 was defined by a stark divergence: structural progress collided with stagnant price action. This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026. Grayscale files for first U.S. Bittensor ETP as decentralized AI gains momentum Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services.
Async Payjoin is the best hope for strong privacy in Bitcoin. Modeled after HTTPS, which enabled secure payments for the web, the Payjoin foundation has been quietly building up this privacy toolkit, which must be adopted by a large number of Bitcoin wallets, to deliver privacy at scale. Modeled after the Bitcoin and Lightning dev kits — which have become quite popular among wallet developers — and built with the same cryptographic primitives already in Bitcoin core, such that it can be easily integrated into the main Bitcoin implementation, Async Payjoin is designed from the bottom up for mass adoption. Unlike specific privacy-focused wallets like Samourai Wallet and Wasabi, Async Payjoin is a software library that any bitcoin payments app can integrate, joining an open standard of privacy, similar to HTTPS on the web. A growing list of Bitcoin wallets support the Payjoin Foundation's V1 and V2 standards today, including: Async Payjoin is backwards compatible, such that users with wallets that do not support the standard yet can still send to Payjoin addresses and QR codes without friction to the users. Fans of Bitcoin privacy should ask their favorite wallet providers to integrate this open source standard, which developers can find a technical reference for at Bip 77, alongside their plug-and-play dev kit on GitHub. The nonprofit PayJoin Foundation, launched in August 2025 to sustain open-source privacy development, receives funding from OpenSats and Cake Wallet, while Spiral, Human Rights Foundation, Maelstrom, and Brink have supported many of the open-source developers who contributed to the project. Their GitHub shows 37 contributors just on the Rust implementation of Async Payjoin. Dan has pioneered Bitcoin privacy tools since the TumbleBit era, forked Wasabi Wallet for mobile use, and co-authored BIP 77 with Yuval Kogman, advisory board member and Spiral Bitcoin Wizard with over two decades of programming experience. Kogman has done extensive work in the Bitcoin privacy field, such as developing WabiSabi DoS protections and whistleblowing vulnerabilities in various CoinJoin implementations. Armin Sabouri has also joined the team as R&D lead with prior roles as CTO at Botanix and engineer at Casa, co-winner of the 2021 MIT Bitcoin Hackathon by getting Bip 78 CoinJoin working on Mac OS via Tor, and is a co-author of BIP 347 (OP_CAT). Gould told Bitcoin Magazine that they are always fundraising and that “none of this work is possible without the funders.” He also went into detail about why they decided to start a Payjoin foundation rather than a for-profit entity, saying that “Bitcoin privacy — for-profits have basically been killed.” According to Gould, a nonprofit is more sustainable to solve the problem because it aligns the incentives; “I think the for-profits have an incentive to sell something that doesn't necessarily guarantee privacy because if they make a sale, they earn profit. And we've seen on the internet that it was attempted. Gould says the Payjoin Foundation has applied for 501 (c) (3) status, which is pending approval. Payjoin provides privacy to Bitcoin by breaking a common pattern of normal transactions, where the sender has one input that gets split up into two to make a payment. Users often have multiple UTXOs (unspent transaction outputs), which are like pockets of coins. If a transaction tries to send more than is in one UTXO, it will pull from another, linking two of these pockets of coins, which up until that point might have had no connection to each other on the chain. Gould cautioned about how much information is leaked with normal bitcoin transactions today, referring to organizations like Chain Analysis, which can, in some circumstances, get access to exchange user data to try and identify owners of a given UTXO, “if you snoop on that, you can see who you've transferred money to in the past. You can see who someone transfers money to in the future. Fungibility means that all coins are considered equal and interchangeable; one is not different from the other based on its history. Cryptocurrencies that focus on maximizing on-chain privacy, like Zcash or Monero, offer higher default degrees of on-chain privacy by encrypting the amounts transferred among parties. As a result, bugs in the related cryptography could lead to inflation bugs that are undetectable, a risk which undermines scarcity, another critical quality of sound money. Payjoin in turn provides Bitcoin a higher degree of on-chain privacy without encrypting the amounts transferred between parties, respecting the scarcity of Bitcoin while enhancing fungibility. It's also important to note that fiat-level privacy already protects users from third-party analysis by being a closed private system, or tries to anyway. Government agencies and executives working at banks have much greater visibility into user balances, but organized crime does not. There are also many laws in countries throughout the world defending user financial privacy, which Async Payjoin is looking to elevate Bitcoin to. To solve this, Payjoin V2 introduces a blinded directory server to provide asynchronous Payjoin coordination among parties, using the well-known Internet standard, Oblivious HTTP. So the directory just gets an 8-kilobyte uniform encrypted blob. In fact, Gould compared the use of OHTTP to Tor, explaining that “The reason we used it is because it's a web standard. OHTTP is literally supported in the iOS operating system. It's used in browsers.” adding that “OHTTP it's kind of like the minimal viable product of Tor where Tor layers encryption and does multiple hops and this is just the most minimal version where you just have one hop. The Payjoin V2 servers provide no financial reward to those who run them, similar to Tor exit nodes, which have sustained these privacy networks on a volunteer basis for decades. Regulators and, as a result, exchange operators often have concerns about Bitcoin privacy technologies, as they are perceived to be in conflict with topics of compliance. If an exchange wants to collect your baby's name, know the place you live, your phone number, and what source of funds, having privacy by default doesn't stop them from doing that. Doesn't stop them from asking for it in order to do business with the user.” Adding that “It just doesn't give them complete insight into your whole wallet, past, present, and future.
A version of this article appeared in our The Decentralised newsletter on December 30. With Ethereum's Fusaka upgrade in the rearview mirror, developers have turned their attention to future improvements codenamed Glamsterdam and Hegota. Despite all the talk in 2025 about Ethereum developers' renewed focus on scaling mainnet — making Ethereum itself more capable of quickly and affordably processing transactions at scale — Fusaka's chief benefit was to reduce the cost of transactions on layer 2 blockchains, which are separate from, but settle on, Ethereum. Glamsterdam, on the other hand, will reflect that renewed focus through its two major features: block-level access lists and enshrined proposer-builder separation, or ePBS. Block-level access lists are expected to be particularly beneficial for complex applications, such as DeFi protocols. At a high level, they'll enable parallel processing of certain transactions on Ethereum. That said, a more significant anti-censorship feature considered for Glamsterdam has been delayed to the Hegota upgrade. We don't even know what the upgrade will include — of the many Ethereum Improvement Proposals floating around online, only that anti-censorship feature has even been marked “considered for inclusion,” meaning it's no guarantee. But the builder market has become concentrated, spurring fears of a choke point that could be easily leveraged by governments and others seeking to censor transactions, the authors continued. FOCIL addresses this by giving so-called validators — another, more distributed set of players in the Ethereum ecosystem — the power to require that builders include certain transactions. Privacy Pools founder Ameen Soleimani has argued that the benefits of FOCIL are overstated, and it creates legal risks for US-based validators. When Tornado Cash was placed on the US sanctions list, some 90% of validators declined to include transactions that touched Tornado Cash smart contracts, he said. Rollup developer Tim Clancy, who, like Soleimani, attended the New York trial of Tornado Cash developer Roman Storm in solidarity, called it the “single most important [proposal] for Ethereum.” “It delivers a capability that Ethereum must have to continue delivering on its mission of being the most neutral blockspace,” he wrote on X earlier this year. Ethereum devs will begin debating which features should be included in Hegota on January 8. Headline features will likely be finalised by the end of February. VOTE: Aave DAO votes on renewal of delegate incentive program VOTE: Rocket Pool votes on membership slate for its grants and bounties committee Major cryptocurrencies closed the year well below their all-time highs reached just months earlier.
Prenetics has stopped buying bitcoin and will focus its capital and strategy entirely on scaling IM8, its growing consumer health brand. The Nasdaq-listed health sciences company said it ceased daily bitcoin purchases on Dec. 4, following approval from its board of directors, and will not pursue future acquisitions of the cryptocurrency. Prenetics will retain its existing holdings of 510 bitcoin as a treasury reserve asset but has committed not to allocate any new or existing capital toward expanding that position. That trend has slowed in recent months as cryptocurrency prices weakened and investor focus returned to core operating businesses. “The phenomenal success of IM8 has exceeded all expectations and scaled much faster than our original expectations,” said Danny Yeung, Prenetics' chief executive officer and co-founder. Prenetics said it remains in a strong financial position, with more than $70 million in cash and cash equivalents, zero debt, and its existing bitcoin holdings intact. The company said that balance sheet strength gives it flexibility to fund IM8's next phase of growth without relying on external financing. Under the revised capital allocation strategy, Prenetics said funds will be directed exclusively toward IM8's operations and expansion. That includes product development, brand marketing, talent acquisition, working capital, and international growth initiatives. IM8 markets an all-in-one nutritional supplement aimed at simplifying daily health routines. The brand has been promoted by Beckham and tennis world number one Aryna Sabalenka, and Prenetics has leaned heavily into celebrity-backed branding as it scales the business globally. Bitcoin has struggled to regain momentum after a sharp downturn earlier in the year, and several companies that adopted crypto-heavy treasury strategies have seen their share prices come under pressure. When the company announced its bitcoin accumulation strategy in June, Yeung spoke about the potential overlap between healthcare innovation and blockchain technology. Six months later, the company's tone has shifted, with management emphasizing execution, revenue growth, and consumer demand. While bitcoin will remain on the balance sheet, the company made clear it will no longer play a central role in its capital deployment plans. Shares of Prenetics were little changed following the announcement. Bitcoin is currently trading at $88,626, up 1% over the past 24 hours on $39 billion in volume, with a market cap of about $1.77 trillion. Established in 2012, Bitcoin Magazine is the oldest and most established source of trustworthy news, information and thought leadership on Bitcoin.
Top holding HUT 8 surged 140% as miners benefit from operational leverage independent of Bitcoin price. Bipartisan crypto legislation expected in 2026 could deepen institutional adoption of blockchain infrastructure. Amplify Transformational Data Sharing ETF (NYSEARCA:BLOK) launched in 2018 as one of the first blockchain-focused funds and has spent 2025 proving that picks-and-shovels exposure to crypto infrastructure beats direct Bitcoin ownership when the digital currency wobbles. The rest is Bitcoin miners, crypto exchanges, fintech platforms, and chip makers that profit regardless of whether Bitcoin trades at $88,000 or $105,000. The biggest macro factor driving BLOK forward isn't Bitcoin's price. It's accelerating institutional adoption of blockchain infrastructure, which creates durable revenue streams for the companies BLOK holds. Grayscale's 2026 outlook projects that bipartisan crypto legislation will become U.S. law next year, deepening integration between public blockchains and traditional finance. These typically arrive quarterly and signal whether institutional capital can flow more freely into blockchain services. When banks and asset managers get clearer rules, companies like Coinbase (NASDAQ:COIN) see trading volume surge and custody businesses expand, regardless of Bitcoin's spot price. The difference shows up in BLOK's top holdings. Robinhood has soared 213% year-to-date as retail and institutional crypto trading activity picked up. Even as Bitcoin declined, volatility drove revenue for platforms that facilitate trades. Miners benefit from hash rate efficiency improvements, energy cost optimization, and diversification into AI data center hosting. When Bitcoin's price stabilizes or declines modestly, well-run miners with low production costs can expand margins. Combined, Bitcoin mining stocks like HUT 8, CleanSpark (NASDAQ:CLSK), and Cipher Mining (NASDAQ:CIFR) represent roughly 15% of BLOK's portfolio. Check Amplify's monthly BLOK-Chain commentary for mining economics and hash rate trends. IBLC holds many of the same miners and exchanges but with a passive indexing approach rather than BLOK's active management. The trade-off: IBLC has just $90 million in assets compared to BLOK's $1.2 billion, which can mean wider bid-ask spreads and less liquidity during volatile periods. Watch institutional adoption signals from regulators for the macro tailwind, and track Bitcoin mining profitability metrics in BLOK's monthly updates for the micro factor that could drive the next 12 months of performance. But data shows that people with one habit have more than double the savings of those who don't. And no, it's got nothing to do with increasing your income, savings, clipping coupons, or even cutting back on your lifestyle. It's much more straightforward (and powerful) than any of that.
Top holding HUT 8 surged 140% as miners benefit from operational leverage independent of Bitcoin price. Bipartisan crypto legislation expected in 2026 could deepen institutional adoption of blockchain infrastructure. Amplify Transformational Data Sharing ETF (NYSEARCA:BLOK) launched in 2018 as one of the first blockchain-focused funds and has spent 2025 proving that picks-and-shovels exposure to crypto infrastructure beats direct Bitcoin ownership when the digital currency wobbles. The rest is Bitcoin miners, crypto exchanges, fintech platforms, and chip makers that profit regardless of whether Bitcoin trades at $88,000 or $105,000. The biggest macro factor driving BLOK forward isn't Bitcoin's price. It's accelerating institutional adoption of blockchain infrastructure, which creates durable revenue streams for the companies BLOK holds. Grayscale's 2026 outlook projects that bipartisan crypto legislation will become U.S. law next year, deepening integration between public blockchains and traditional finance. These typically arrive quarterly and signal whether institutional capital can flow more freely into blockchain services. When banks and asset managers get clearer rules, companies like Coinbase (NASDAQ:COIN) see trading volume surge and custody businesses expand, regardless of Bitcoin's spot price. The difference shows up in BLOK's top holdings. Robinhood has soared 213% year-to-date as retail and institutional crypto trading activity picked up. Even as Bitcoin declined, volatility drove revenue for platforms that facilitate trades. Miners benefit from hash rate efficiency improvements, energy cost optimization, and diversification into AI data center hosting. When Bitcoin's price stabilizes or declines modestly, well-run miners with low production costs can expand margins. Combined, Bitcoin mining stocks like HUT 8, CleanSpark (NASDAQ:CLSK), and Cipher Mining (NASDAQ:CIFR) represent roughly 15% of BLOK's portfolio. Check Amplify's monthly BLOK-Chain commentary for mining economics and hash rate trends. IBLC holds many of the same miners and exchanges but with a passive indexing approach rather than BLOK's active management. The trade-off: IBLC has just $90 million in assets compared to BLOK's $1.2 billion, which can mean wider bid-ask spreads and less liquidity during volatile periods. Watch institutional adoption signals from regulators for the macro tailwind, and track Bitcoin mining profitability metrics in BLOK's monthly updates for the micro factor that could drive the next 12 months of performance. But data shows that people with one habit have more than double the savings of those who don't. And no, it's got nothing to do with increasing your income, savings, clipping coupons, or even cutting back on your lifestyle. It's much more straightforward (and powerful) than any of that.
Chinese investors have poured over $188 million into firms working on the digital yuan following the People's Bank of China's decision to let central bank digital currency wallets accrue interest. Almost a third of that investment went into Lakala, a third-party payment service provider that works with merchant acceptance solutions and hardware wallets, reported the Chinese outlet Securities Times. The central bank's move to allow state-issued digital currencies to earn interest is a “win-win situation for all parties,” an unnamed Chinese financial expert told China's Shanghai Securities News. And commercial banks will receive incentives for conducting digital yuan business,” the expert said. As of January 1, 2026, the PBoC said, “banks can independently manage the assets and liabilities of their digital yuan wallet balances.” Almost a year after US President Donald Trump signed an executive order banning federal agencies from issuing or endorsing CBDCs, China is trying to breathe new life into its digital yuan project, first unveiled in 2020, vaunting its domestic and cross-border applications. Earlier this month, a state-owned bank used a private blockchain network to issue $600 million in commercial bonds to buyers who pay in digital yuan. The bank said a total of 3.48 billion CBDC transactions have been processed to date, with 230 million people opening personal wallets. Share prices in a range of other digital yuan-related companies also soared by over 10% in Shenzhen on Monday. These included Hengbao, Cuiwei, ST Rendong, Wuhan Tianyu, and iSoftStone, all companies that work with the PBoC on CBDC-related solutions. Many of these firms work with hardware or offline wallets, wearable or plastic credit card-type wallet solutions. The PBoC envisages these wallets as playing a key role in adoption. While most of China's young and urban population use smartphones and have bank accounts, millions of Chinese remain unbanked, with millions more not connected to the internet. They automatically update balances when they come into contact with internet-connected point-of-sale devices or train station ticket barriers.
Long-term holders (LTH) of bitcoin BTC$87,400.28 have shifted back into accumulation for the first time since July. LTHs, defined as entities that have held bitcoin for at least 155 days, have accumulated roughly 33,000 BTC on a 30-day net basis, according to onchain data analysts checkonchain. LTHs sold more than 1 million BTC during the 36% correction from October, marking the largest sell-pressure event from this cohort since 2019, a period that ultimately coincided with the bear market low that year, with bitcoin at around $3,200. The first occurred in March 2024 when bitcoin reached $73,000 and over 700,000 BTC were sold, while the second took place that November when bitcoin reached $100,000 and more than 750,000 BTC were distributed by LTHs. L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. 2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns. This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026. Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services.
Digital asset investment products closed the final full week of December under continued pressure, with persistent outflows underscoring fragile investor sentiment despite still-strong year-to-date inflows. According to CoinShares' Digital Asset Fund Flows Weekly report dated December 29, products recorded US$446 million in net weekly outflows, extending cumulative redemptions since the October 10 price shock to US$3.2 billion. The figures highlight a growing divergence in crypto market behavior. XRP and Solana-linked products continue to attract inflows following their recent ETF launches, suggesting that investors are reallocating rather than exiting the asset class altogether. This bifurcation points to a market in transition as 2025 draws to a close: one where macro uncertainty and profit-taking coexist with targeted conviction trades. Switzerland also saw modest redemptions of US$14.2 million. German-listed products attracted US$35.7 million in weekly inflows and a substantial US$248 million month-to-date, making it the strongest regional performer. The report notes that investors in Germany appear to be using recent price weakness as an accumulation opportunity rather than a reason to de-risk. While U.S. flows often react more quickly to short-term price moves, European investors—particularly in Germany—may be positioning for medium-term recovery under clearer regulatory and product structures. Since the launch of XRP and Solana ETFs, Bitcoin products have seen total outflows of US$2.8 billion, with Ethereum products losing US$1.6 billion over the same timeframe. This suggests that capital is not simply leaving crypto, but rotating away from the two largest assets. Despite these outflows, year-to-date figures remain historically strong. However, total assets under management have risen by just 10% YTD, implying that many investors have yet to see positive net outcomes once flows and price action are combined. Since their ETF launches in the United States, XRP and Solana products have accumulated US$1.07 billion and US$1.34 billion in inflows respectively. This resilience highlights how new product structures and narratives can redirect capital even during periods of broader market caution. The data suggests that investors are increasingly willing to express directional views through targeted exposure rather than broad beta. In practice, this favors assets perceived to have idiosyncratic catalysts—such as network adoption, ecosystem growth, or legal clarity—over more mature cryptocurrencies. At the provider level, outflows were led by major U.S. issuers. Fidelity's Wise Origin Bitcoin Fund also experienced US$111 million in weekly outflows. These figures reinforce the view that institutional portfolios are being actively rebalanced. Some providers, such as ProShares and Volatility Shares Trust, posted weekly inflows, indicating that leverage and tactical strategies continue to attract niche demand even as spot products lose assets. The dispersion across issuers points to a more sophisticated phase of market participation, where investors are differentiating between structures, fee models, and strategy types rather than treating crypto exposure as a single trade. Persistent outflows indicate that confidence has not fully recovered, even as year-to-date inflows remain robust in historical terms. This tension suggests that crypto markets are transitioning from momentum-driven inflows to more selective, fundamentals-based allocation. Conversely, Bitcoin and Ethereum may need renewed catalysts—such as macro easing or regulatory breakthroughs—to reverse the current outflow trend.
Crypto's biggest gains rarely feel obvious at the start. When XRP launched at an ICO price of roughly $0.005–$0.006, it was widely dismissed. Today, XRP trades around $1.85, delivering a 300x+ return from ICO levels. Early buyers didn't just profit — they changed their financial trajectory. That same moment is forming again — and this time, it's happening during an upcoming crypto presale where the infrastructure already exists. XRP didn't succeed because everyone believed in it early. This exact pattern repeats in every cycle — and it's why experienced investors now prioritize crypto whitelist access instead of chasing listings. The DOGEBALL whitelist is not selling a future promise. Secure early access through the DOGEBALL whitelist before public presale stages increase pricing. DOGECHAIN is the first ETH Layer 2 built specifically for online gaming. Unlike many presales that claim to have L2 tech, DOGEBALL allows users to test the blockchain directly on the presale website. This alone separates it from most crypto whitelist projects. Test the DOGEBALL blockchain yourself before committing capital. This prevents the long delays that kill momentum in typical presales. With only 20B tokens allocated to presale out of an 80B total supply, early scarcity is built in. Early stages offer the highest upside — DOGEBALL whitelist access matters. DOGECHAIN is positioned as a future hub for online gaming developers. DOGEBALL offers a similar moment — but with one major difference. For those evaluating a credible upcoming crypto presale, the DOGEBALL whitelist stands out as a rare mix of execution, timing, and transparency. Crypto always creates new opportunities.The real question is whether you act before the crowd does. Disclaimer: This is a paid post and should not be treated as news/advice. LiveBitcoinNews is not responsible for any loss or damage resulting from the content, products, or services referenced in this press release
Strategy continues to purchase Bitcoin as worries of a price crash grow. Bitcoin's price continued to slide on Tuesday as traders warned of a potential sharp correction early next year, even as major corporate holder Strategy moved forward with another nine-figure purchase. Receive up to $100,000 worth of exclusive gifts for newcomers upon registration. Earn rewards worth up to 5,000 USDT on your first deposit “Bitcoin is now showing the same setup we saw in 2021,” one trader wrote, alongside technical charts that circulated broadly among market participants. “If the four-year cycle is still intact, BTC will drop to $40,000 in January. Most people aren't ready for what's coming in a few weeks.” Historically, these halvings have preceded major price peaks followed by steep drawdowns. “History might be repeating itself again,” another X user replied. “The situation is completely different now,” one X user wrote. Several prominent industry figures have also pushed back against the idea that Bitcoin is headed for a cycle-driven crash. Speaking at Binance Blockchain Week, Fundstrat's Tom Lee said Bitcoin's four-year cycle is no longer a reliable framework for understanding the market. “We're going to shatter the Bitcoin four-year cycle,” Lee said. He pointed to recent price action as evidence, noting that Bitcoin rose 36% earlier in the year before reversing sharply. “Crypto was up 36% until Oct. 10, and then it's gone straight down,” Lee said. Ark Invest CEO Cathie Wood has also argued that the four-year cycle is being disrupted. “We think that the move by institutions into this new asset class is going to prevent much more of a decline,” she said. Former Binance CEO Changpeng “CZ” Zhao echoed the view at Bitcoin MENA, saying external forces may now be “strong enough to offset the four-year cycle.” Despite the sell-off and warnings of a major correction, Strategy disclosed another significant Bitcoin purchase on Monday. The company, led by Michael Saylor, said it acquired 1,229 Bitcoin for approximately $108.8 million at an average price of $88,568 per coin. As of 12/28/2025, we hodl 672,497 $BTC acquired for ~$50.44 billion at ~$74,997 per bitcoin. Analysts say technical indicators suggest Bitcoin may still have upside potential, even as downside risks remain. Victor Olanweraju, a crypto analyst at CCN, said the Pi Cycle Top indicator — a tool used to identify long-term market peaks — does not currently signal an imminent top.